Germany kept alive hopes that the 17-nation euro currency can survive the sprawling debt crisis when lawmakers in Europe’s largest economy on Thursday voted overwhelmingly in favor of expanding the powers of the eurozone’s bailout fund.

The failure to break above 1.37 in Wednesday’s US session lead to a push back towards the “double bottom” established earlier in the week. However, the market remained above the 1.3520 level and pushed right back up nearly to Wednesday’s high.

The 1H GBP/JPY chart shows price action rising above a declining channel that anchored out of a rising channel. The recovery in GBP/JPY does not seem to be over as the RSI failed to push below 40, and is now pushing above 60.